Swift Energy Q2 earns, rev. rise, top expectations

NEW YORK (CBS.MW) - Swift Energy
SFY, +0.28%
reported second-quarter earnings of $12.9 million, or 46 cents a share, up from 26 cents a share in the same period a year ago. Excluding debt retirement expenses, earnings were 52 cents a share, topping the average analyst estimate compiled by Thomson First Call of 51 cents. Revenue rose 40 percent to $71 million, exceeding analyst forecasts of $63.7 million, amid a 41 percent increase in the value of oil and gas sales. Production grew 7 percent, as a 20 percent rise in domestic production offset a 15 percent decline in New Zealand. The oil and gas explorer's stock closed Tuesday up 36 cents at $23.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.